Amber Enterprises to launch Rs. 555 crore IPO on 17 January

Amber Enterprises India Ltd, a prominent solution provider for Air conditioner Industry in India, on Wednesday said it will launch a Rs. 555 crore IPO on 17 January. The company has priced its shares ranging Rs. 855 - 859 per share, which comprises a fresh issue of shares of Rs. 450 crore and an offer for sale of shares of Rs. 105 by promoters of the firm Jasbir Singh & Daljit Singh. The offering closes on 19 January.

In the fiscal 2016-17, Amber Enterprises India Limited’s posted revenue of Rs. 1652.20 cr, up from Rs. 1092.10 cr, in the previous year. The company earned a profit of Rs. 27.8 cr, up from Rs. 24.1 cr, in the previous year.

Investment banks Edelweiss Fin Services Ltd, SBI Capital Markets, IDFC Bank Ltd and BNP Paribas are managing the share sale.

Newgen Software launches Rs. 400 crore IPO on 16 January

Newgen Software Technologies Limited has said that it will launch an initial public offering (IPO) on 16 January to raise over Rs. 400 crore. The company has fixed a price band of Rs. 240-245 per share. The IPO comprises a fresh issue of shares worth Rs. 95 crore and an OFS of 13.45 million shares by existing venture capital investors. The IPO closes on 18 January. At the upper end of the price band, the offer will collectively bring in the company and the exiting investors around Rs. 424.6 crore.

Venture capital investors sell their stakes include Ascent Capital, IDG Ventures and SAP Ventures. Ascent Capital is selling its entire 11.42% stake in Newgen, while IDG is selling 4.57% and SAP Ventures’ 3.31%.

Investment banks ICICI Securities Ltd, IDFC Bank Ltd and Jefferies India Pvt Ltd are managing the Newgen share sale.  Newgen Software Technologies’ IPO will be the second initial share sale this year.

Apollo Tyre to invest Rs. 1,800 cr for Greenfield plant in A.P

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Leading tyre manufacturer Apollo Tyres Limited announced that it plans to invest Rs. 1800 crore for setting up a Greenfield plant at Andhra Pradesh. The announcement was made during the foundation-stone-laying ceremony of Apollo Tyres’ global scale mfg facility on Tuesday, 9 January.

Apollo Tyres has bought 200 acres land from the Andhra Pradesh govt for this development. The construction will commence within the next 6 months, and the tyres are likely to start rolling out from this facility in the following 2 years.

Presently, Apollo Tyre has four production plants, of these two are in Kerala and one in Gujarat and another one in Tamil Nadu. This novel planned facility of Apollo Tyres Limited is located in Chinnapanduru village, Chittoor district, in Andhra Pradesh.

The stock of Apollo Tyre Limited open on Tuesday’s trade at Rs. 283 and touched day's high of Rs. 288.7, up 1.7% from the previous close of Rs. 283.80. The stock closed at Rs. 284.95, up by Rs. 1.25 or 0.44 per cent at NSE.